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The Select Harvests Limited share price has now fallen 33% this year

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Unfortunately the Select Harvests Limited (ASX: SHV) share price is once again heading in the wrong direction.

In afternoon trade the almond producer’s shares are down almost 1% to $4.47. This means its shares have now lost a third of their value since the turn of the year.

Last month the Select Harvest share price fell heavily after it was forced to downgrade its full-year almond crop estimate to between 13,500 and 14,000 metric tonnes.

Previous guidance given in its half-year results had been for 16,000 metric tonnes of almonds this year.

Unsurprisingly this led management to advise that it was very likely its full-year earnings would be materially impacted.

But with its shares now trading close to a 52-week low, Motley Fool contributor Rachit Dudhwala has recently added the embattled almond producer’s shares and six others onto his watch list.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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